The Philippines plunged into recession after its biggest quarterly contraction on record, data showed Thursday, as the economy reels from coronavirus lockdowns that have wrecked businesses and thrown millions out of work.
/https://s2.mihaaru.com/photos/2020/08/06/281700_3_35dca7503b18cb7dea766d6f5171337dd7a3bcc4_large.jpg)
People wearing masks shop for fresh food at a market in Manila on August 6, 2020. - The Philippines plunged into recession after its biggest quarterly contraction in four decades, data showed on August 6, as the economy reels from COVID-19 coronavirus lockdowns that have wrecked businesses and thrown millions out of work. PHOTO: LISA MARIE DAVID / AFP
2020-08-06 09:14:34
The Philippines plunged into recession after its biggest quarterly contraction on record, data showed Thursday, as the economy reels from coronavirus lockdowns that have wrecked businesses and thrown millions out of work.
Gross domestic product shrank 16.5 percent on-year in the second quarter, said the Philippine Statistics Authority, after the country endured one of the world's longest stay-at-home orders to slow the spread of the virus that has devastated economies globally.
Copyright © 2025 The Edition
/https://s1.mihaaru.com/photos/2025/03/03/412239_3_0d44335ad3c46bcc013565bc8f2b060cc771eb05_large.jpg)
/https://s3.mihaaru.com/photos/2024/11/18/405822_3_42991b287152e728fb9dc1a34b047616b3c170b2_large.jpg)
/https://s3.mihaaru.com/photos/2025/02/22/411540_3_4a48676775adcce55fa65b35db06d54c556c2d45_large.jpg)
/https://s2.mihaaru.com/photos/2025/01/20/409609_3_8619638b962d13f7368c9bfe329a353eeeb47616_large.jpg)